Germany’s Deutsche Bank has announced that it will complete the IT integration of Deutsche Postbank this weekend.
To serve as the retail banking arm of Deutsche Bank, Postbank was acquired. The process began back in 2008, and the USD 6 billion transaction was finished in 2012. The transaction’s systems integration component, however, has proven to be significantly more difficult. The integration’s fourth and final component was supposed to be finished last year, but there was a delay.
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According to the bank, the merger, known as Project Unity, is anticipated to save the bank USD 300 million by 2025.